|  |  |  |  |
| --- | --- | --- | --- |
|  | 11.1.1 |  | report the event of loss to Lessor, the insurance company or companies, and to any
and all applicable governmental agencies; and |
|  |
|  | 11.1.2 |  | furnish such information and execute such documents as may be required and necessary
to collect the proceeds from any insurance policies. |






|  |  |  |
| --- | --- | --- |
| 11.2 |  | **Repair or Termination**. In the event the Aircraft is partially destroyed or damaged, Lessor
shall have the option, in its sole discretion, to either (i) fully repair the Aircraft in
order that it shall be placed in at least as good condition as it was prior to such partial
destruction or damage; or (ii) terminate this Agreement. Within five (5) days after the date
of such partial destruction or damage, Lessor shall give written notice to Lessee specifying
whether Lessor has elected fully to repair the Aircraft and, if so, the expected date the
Aircraft will be fully repaired and available for Lessee’s use in accordance with this
Agreement, or to terminate this Agreement, which termination shall be effective immediately
upon such written notice from Lessor to Lessee setting forth Lessor’s election to so terminate
this Agreement. |
|  |
| 11.3 |  | **Indemnification**. Lessee hereby releases, and shall defend, indemnify and hold harmless
Lessor and its shareholders, members, directors, officers, managers, employees, successors and
assigns, from and against, any and all claims, damages, losses, liabilities, demands, suits,
judgments, causes of action, civil and criminal legal proceedings, |